What to do with gold coins? Help me decide.

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
veindoc
Posts: 778
Joined: Sun Aug 14, 2016 9:04 pm

What to do with gold coins? Help me decide.

Post by veindoc »

I inherited from my mother 8 gold bars which are valued at a little under $16,000 per my jeweler.

Financially for us this will not move the needle.

I would like to keep this money separate for sentimental reasons. Choices are to keep the gold bars, purchase a piece of estate jewelry I would wear on special occasions like I do with the jewelry she left me, buy Bitcoin, or use the money to purchase either an investment property or second home.

Believe it or not I am leaning towards Bitcoin. The gold was purchased in the ‘80s when I was a kid as an investment for the kids ( my sibling and I). It did not rise substantially from 800 at purchase in 1987 to just under $2000 now. In the same vein I am thinking of buying Bitcoin and seeing where it ends up when the kids are in their 40’s (hopefully I’ll be alive to see). I wish I had bought last year when the Bitcoin was $6000 when I first thought of it but had I done that I think I would have had a hard time not cashing it out at the levels it is now.
Dottie57
Posts: 9742
Joined: Thu May 19, 2016 5:43 pm
Location: Earth Northern Hemisphere

Re: What to do with gold coins? Help me decide.

Post by Dottie57 »

Sell it and put it in Vanguards All world ETF.

Bitcoin. No.
livesoft
Posts: 75166
Joined: Thu Mar 01, 2007 8:00 pm

Re: What to do with gold coins? Help me decide.

Post by livesoft »

Sentimental? Sell it and buy Vanguard LifeStrategyModerate Growth fund with the money. Sell some of the fund each year on your mother's birthday and have a nice dinner or take the entire family on a vacation paid by your mother.

Also vow to never have your heirs saddled with sentimentality with their inheritance from you. Tell them ahead of time to spend the money or invest in their own retirement per their own asset allocation or give it away to charity.
Wiki This signature message sponsored by sscritic: Learn to fish.
59Gibson
Posts: 211
Joined: Mon Dec 07, 2020 8:41 am

Re: What to do with gold coins? Help me decide.

Post by 59Gibson »

But then you'll be continuing the cycle with the kids/grand kids. They'll just be multi-billionaires holding onto their grandfather's bitcoin for sentimental reasons.
Kagord
Posts: 577
Joined: Fri Nov 23, 2018 1:28 pm

Re: What to do with gold coins? Help me decide.

Post by Kagord »

I'd just keep it, for 4000 years gold has been the gold standard to preserve wealth for future generations. Do you think bitcoin is going to be around 4000 years from now.
User avatar
geerhardusvos
Posts: 1800
Joined: Wed Oct 23, 2019 10:20 pm
Location: heavenlies

Re: What to do with gold coins? Help me decide.

Post by geerhardusvos »

If it won’t move the needle at all, why are you asking? Just keep it.
VTSAX and chill
Pandemic Bangs
Posts: 375
Joined: Sat Dec 26, 2020 3:49 pm

Re: What to do with gold coins? Help me decide.

Post by Pandemic Bangs »

If your handle is accurate, this is peanuts for you. Keep it in the safe deposit box if you want. OTOH, this has no impact on your asset allocation.

To be clear, this is 1 oz x 8 and has no numismatic value? Meaning these are not dated old coins? You don't need a jeweler -- just spot price to tell you the value.

I think I have a few oz in safe-deposit box from a relative. He never got around to selling it and neither did I. :D
Wait 'til I get my money right | Then you can't tell me nothing, right?
Vanguard Fan 1367
Posts: 1959
Joined: Wed Feb 08, 2017 3:09 pm

Re: What to do with gold coins? Help me decide.

Post by Vanguard Fan 1367 »

I like the idea of just keeping the gold bars.
John Bogle: "It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it."
Jack FFR1846
Posts: 13278
Joined: Tue Dec 31, 2013 7:05 am
Location: 26 miles, 385 yards west of Copley Square

Re: What to do with gold coins? Help me decide.

Post by Jack FFR1846 »

When bitcoin was new, my older son and a friend started mining them. It was much easier back then and they mined some fraction of a bitcoin. The wallet resides on a hard drive. At this point, the hard drive is in my son's room. Along with about 10 other hard drives. Nobody remembers the password. Or which drive it's on.

Say something similar happens to your bitcoins. So you leave to your heirs in your will some number of digital loss that could have been gold bars?

I am no gold bug but I would choose gold over bitcoin every time.
Bogle: Smart Beta is stupid
placeholder
Posts: 4408
Joined: Tue Aug 06, 2013 12:43 pm

Re: What to do with gold coins? Help me decide.

Post by placeholder »

If you had inherited cash would you buy gold with it?
tomsense76
Posts: 235
Joined: Wed Oct 14, 2020 1:52 am

Re: What to do with gold coins? Help me decide.

Post by tomsense76 »

I'd sell it and put it in my AA if it were me. At that point it is just money that one could do whatever they want with it (buy jewelry, downpayment on a house, etc.). Though just leaving it in the AA seems fine too. IOW selling preserves maximum optionality with minimal risk.

I know BHs are not a fan of market timing. That said, Gold is at a high now comparable to what it was a decade ago during the Great Recession. If history repeats itself, that price will drop at some point again (as it had before). Selling at a high seems like a good idea. I wouldn't bother trying to look at the day-to-day trading value.

TBH I'm not a huge fan of Bitcoin. I know friends that mined and bought this around a decade ago and sold after a few years mostly as a hobby. Honestly don't know anyone that holds this any more. Am suspicious that the people now buying into Bitcoin much like in 2017 are buying into hype without knowing what it is (IOW it looks like a bubble to me). Would not be surprised if after the current crisis ends, Bitcoin craters (IOW it is being used like Gold). Even if I'm wrong, Bitcoin is just too volatile of an asset class without an expected return (no dividend or coupon payment like stocks and bonds). Does not feel like one is getting compensated for the risk.
123
Posts: 6955
Joined: Fri Oct 12, 2012 3:55 pm

Re: What to do with gold coins? Help me decide.

Post by 123 »

placeholder wrote: Fri Jan 15, 2021 8:56 pm If you had inherited cash would you buy gold with it?
Since gold bars are involved I would tend to not think of it as money but more as "treasure" or jewelry to pass on.
The closest helping hand is at the end of your own arm.
User avatar
UpsetRaptor
Posts: 793
Joined: Tue Jan 19, 2016 5:15 pm

Re: What to do with gold coins? Help me decide.

Post by UpsetRaptor »

So each bar is one ounce then? Just checking to ensure you were given a correct price.
manlymatt83
Posts: 366
Joined: Tue Jan 30, 2018 8:23 am

Re: What to do with gold coins? Help me decide.

Post by manlymatt83 »

livesoft wrote: Fri Jan 15, 2021 6:54 pm Sentimental? Sell it and buy Vanguard LifeStrategyModerate Growth fund with the money. Sell some of the fund each year on your mother's birthday and have a nice dinner or take the entire family on a vacation paid by your mother.

Also vow to never have your heirs saddled with sentimentality with their inheritance from you. Tell them ahead of time to spend the money or invest in their own retirement per their own asset allocation or give it away to charity.
I love this idea. OP, just keep it in a separate account at your broker. That is separate enough.
IPS: 90% VTWAX, 10% SCV until Vanguard’s test says otherwise. IRA I don’t contribute to anymore set aside separately as “play” fund, which is 3% of net worth.
Topic Author
veindoc
Posts: 778
Joined: Sun Aug 14, 2016 9:04 pm

Re: What to do with gold coins? Help me decide.

Post by veindoc »

livesoft wrote: Fri Jan 15, 2021 6:54 pm Sentimental? Sell it and buy Vanguard LifeStrategyModerate Growth fund with the money. Sell some of the fund each year on your mother's birthday and have a nice dinner or take the entire family on a vacation paid by your mother.

Also vow to never have your heirs saddled with sentimentality with their inheritance from you
. Tell them ahead of time to spend the money or invest in their own retirement per their own asset allocation or give it away to charity.
Responding to bolded area. Doubtful that that could be controlled. I have my mother’s outfit she wore on the day she went to the hospital never to return home again. My husband is holding onto his father’s favorite caps he used to wear although they are really not in wearable condition. My cousin has her mother’s paintings hung all around her home. None of us were told specifically by our loved ones what to do with the items they left behind. We all just followed our heart and kept what made sense to us.
placeholder
Posts: 4408
Joined: Tue Aug 06, 2013 12:43 pm

Re: What to do with gold coins? Help me decide.

Post by placeholder »

123 wrote: Fri Jan 15, 2021 9:24 pm
placeholder wrote: Fri Jan 15, 2021 8:56 pm If you had inherited cash would you buy gold with it?
Since gold bars are involved I would tend to not think of it as money but more as "treasure" or jewelry to pass on.
I don't understand the difference as it's an inheritance and I would say the same thing about a car or a house.
Topic Author
veindoc
Posts: 778
Joined: Sun Aug 14, 2016 9:04 pm

Re: What to do with gold coins? Help me decide.

Post by veindoc »

UpsetRaptor wrote: Fri Jan 15, 2021 9:36 pm So each bar is one ounce then? Just checking to ensure you were given a correct price.
Yes, each bar is an ounce.
Nummerkins
Posts: 534
Joined: Tue Jun 01, 2010 4:41 pm

Re: What to do with gold coins? Help me decide.

Post by Nummerkins »

Have your jeweler make some things you would like out of the gold.
Today's high is tomorrow's low.
Afty
Posts: 1569
Joined: Sun Sep 07, 2014 5:31 pm

Re: What to do with gold coins? Help me decide.

Post by Afty »

I was in a similar situation. I inherited my dad's coin collection. I just let it sit for a decade. Eventually I became convinced it wasn't doing anyone any good just sitting there, and in fact there was a risk it could get stolen or lost in a fire or something.

I sold the coins and used part of the proceeds to make a donation in my dad's honor to a charity he cared about. The rest I gave to my kids. I felt that this was a good way to honor my dad's memory.
Gabelli2020
Posts: 56
Joined: Sat Nov 14, 2020 4:01 pm

Re: What to do with gold coins? Help me decide.

Post by Gabelli2020 »

Put it in your safe deposit box with the wills. A mini treasure chest for the kids after your demise.
Your handle predicts that you will sell it, buy bitcoin and lose all. ( tribute to most investment decisions of my fellow docs )
pradapanda
Posts: 1
Joined: Fri Jan 15, 2021 11:32 pm

Re: What to do with gold coins? Help me decide.

Post by pradapanda »

for 8 coin bar, i would just leave it at safe box and pass to kids when they grow up. The 1 oz gold bar costed about 350 dollars 18 years ago, but now it is about 1800 dollars now...
User avatar
FIREchief
Posts: 6305
Joined: Fri Aug 19, 2016 6:40 pm

Re: What to do with gold coins? Help me decide.

Post by FIREchief »

Bitcoin. LOL. :P
I am not a lawyer, accountant or financial advisor. Any advice or suggestions that I may provide shall be considered for entertainment purposes only.
oldfort
Posts: 2546
Joined: Mon Mar 02, 2020 8:45 pm

Re: What to do with gold coins? Help me decide.

Post by oldfort »

Bitcoin is crazy. There's no way this bubble lasts another 30 years. Everyone buying Bitcoin because they expect 100% annual returns will dump all their holdings when it has a couple of negative years in a row. There's been an almost endless list of cryptocurrency exchange hacks. If you go the cold storage route, a USB flash drive is the type of small item which gets lost over the next 30 years, gets thrown out when the kids settle your estate as junk, or you no longer remember the passwords protecting your wallet or didn't write them down in a discoverable place for your heirs. Will any computer be able to read a USB flash drive in 30 years? There's an estimate 20% of all Bitcoin ever mined is permanently lost.

https://selfkey.org/list-of-cryptocurre ... nge-hacks/
User avatar
Watty
Posts: 21855
Joined: Wed Oct 10, 2007 3:55 pm

Re: What to do with gold coins? Help me decide.

Post by Watty »

veindoc wrote: Fri Jan 15, 2021 6:36 pm .... 8 gold bars .....

It did not rise substantially from 800 at purchase in 1987 to just under $2000 now.
So she spent $6,400 on the gold in 1987.

On January 1st the S&P 500 was at 264.

It is at 3768 today. That is up orver 14 time without dividends.

If she had bought an $S&P 500 index fund instead it would now be worth more than $100K with the dividends. (You can crunch the exact numbers.)

That looks more like an example of what not to do than something to try to do again today with bitcoin.
veindoc wrote: Fri Jan 15, 2021 6:36 pm I would like to keep this money separate for sentimental reasons. Choices are to keep the gold bars, purchase a piece of estate jewelry I would wear on special occasions like I do with the jewelry she left me, buy Bitcoin, or use the money to purchase either an investment property or second home.
I can understand keeping or buying jewelry for sentimental reasons but all the other options make little sense because the emotional attachment to the money would not be there and you could do that with your other funds.

A few more suggestions;
1) Give it to a charity that both you and your mom would have supported.
2) Use it for a kids wedding and let them know it was from their grandparent.
3) Use it to help the kids buy a SAFE car.
4) Help the kids with a house downpayment.
5) Grandkids college fund
kimura king
Posts: 196
Joined: Tue Dec 31, 2019 4:59 pm

Re: What to do with gold coins? Help me decide.

Post by kimura king »

Dottie57 wrote: Fri Jan 15, 2021 6:38 pm Sell it and put it in Vanguards All world ETF.

Bitcoin. No.
yep. s&p or total stock market index would be nice too.
RJ5
Posts: 38
Joined: Thu Jul 16, 2020 4:20 pm

Re: What to do with gold coins? Help me decide.

Post by RJ5 »

Hold the gold
Mr.BB
Posts: 1529
Joined: Sun May 08, 2016 10:10 am

Re: What to do with gold coins? Help me decide.

Post by Mr.BB »

I had a bunch of silver coins my dad left me years ago, just sitting in a drawer (none of them individually rare). When silver had a big jump about 10 years ago I sold them and got about $1100 for them. I took that money and put it into our Roth account. I figured it has doubled in value by this point.
"We are what we repeatedly do. Excellence, then, is not an act, but a habit."
User avatar
HMSVictory
Posts: 206
Joined: Sun Nov 01, 2020 7:02 am

Re: What to do with gold coins? Help me decide.

Post by HMSVictory »

Get 3 quotes and sell the gold bars. Invest the proceeds into VTSMX. Check back in 40 years from now and let us know how it did?

If you did this in 1987 it would be worth about $14k now instead of $2K. No FOMO for Bitcoin TLSA or Tullips.
Stay the course!
User avatar
Nate79
Posts: 6897
Joined: Thu Aug 11, 2016 6:24 pm
Location: Delaware

Re: What to do with gold coins? Help me decide.

Post by Nate79 »

Dig a hole and bury it in the backyard. Make a map. Put the map in a bottle. Put the bottle in the attic. In your will give instructions where to find the bottle upon your demise.
student
Posts: 5382
Joined: Fri Apr 03, 2015 6:58 am

Re: What to do with gold coins? Help me decide.

Post by student »

Since financially it will not move the needle and this is for sentimental reasons, pick one that you feel will fit this goal the most.
hudson
Posts: 3708
Joined: Fri Apr 06, 2007 9:15 am

Re: What to do with gold coins? Help me decide.

Post by hudson »

veindoc wrote: Fri Jan 15, 2021 6:36 pm I inherited from my mother 8 gold bars which are valued at a little under $16,000 per my jeweler.

Financially for us this will not move the needle.

I would like to keep this money separate for sentimental reasons. Choices are to keep the gold bars, purchase a piece of estate jewelry I would wear on special occasions like I do with the jewelry she left me, buy Bitcoin, or use the money to purchase either an investment property or second home.

Believe it or not I am leaning towards Bitcoin. The gold was purchased in the ‘80s when I was a kid as an investment for the kids ( my sibling and I). It did not rise substantially from 800 at purchase in 1987 to just under $2000 now. In the same vein I am thinking of buying Bitcoin and seeing where it ends up when the kids are in their 40’s (hopefully I’ll be alive to see). I wish I had bought last year when the Bitcoin was $6000 when I first thought of it but had I done that I think I would have had a hard time not cashing it out at the levels it is now.
Easy come, easy go...go ahead with Bitcoin.

If you asked me what I would do if I got the gold?
I'd get 3 quotes, sell all, and buy the long tips etf, LTPZ.
humblecoder
Posts: 369
Joined: Thu Aug 06, 2020 8:46 am

Re: What to do with gold coins? Help me decide.

Post by humblecoder »

I think you are asking in the wrong forum to be honest. You are getting financial advice for what essentially is a non-financial question.

You are not asking what makes the best financial sense, which many of the respondents are missing. You are asking for ideas that make the most sentimental sense, meaning ideas that will help you and your family to honor the memory of your loved one. Selling the bars and putting them into a Vanguard ETF might make the best financial sense, but I think that is missing the point.

If I were in your shoes, I would either keep the gold bars because it is the most direct representation of your mother's gift, or I would use the gold bars to make some sort of keepsake jewelry (note that I did not say to sell the bars to purchase jewelry). That way, the actual gold that your mother gifted you would be in the jewelry so you have that direct connection to her.

The other options are "one step removed" from the actual physical gift. The Bitcoin idea is interesting because it captures the spirit of the gift. However, it loses some sentimental value for me since it's just bits and bytes on a computer. You can't see it, touch it, etc. Things that you can actually perceive with your senses are more of a emotional/sentimental trigger (at least for me).

Finally, somebody mentioned that you should not let sentiment cloud a financial decision. Normally I would agree but given that this isn't something that you need financially, I would reverse the advice and make your decision on pure sentiment and not let finances cloud the decision.

Good luck with whatever you decide.
Impatience
Posts: 340
Joined: Thu Jul 23, 2020 3:15 pm

Re: What to do with gold coins? Help me decide.

Post by Impatience »

You already said it was financially immaterial, so... buy a little safe to keep it in, OR if you’re really feeling bold maybe a nice display case. You could have a picture of your mother surrounded by all those gold bars, that would be quite the memorial.
Pu239
Posts: 402
Joined: Mon Dec 17, 2018 6:24 pm

Re: What to do with gold coins? Help me decide.

Post by Pu239 »

I suggest keeping the bars for sentimental reasons and buying bitcoin with other resources to satisfy your speculative impulses. If you have kids, you can pass grandmas bars on to them later in life as a legacy along with a loving note about how they were acquired, etc. You would then have two financial assets to pass on and stories to tell: grandmas gold bars and your bitcoin investment. I expect bitcoin to be the more interesting story with gold bars being the better sentimental asset.
Between the idea And the reality...Between the motion And the act...Falls the Shadow - T. S. Eliot
SKJUN
Posts: 15
Joined: Sat Jan 16, 2021 1:31 pm

Re: What to do with gold coins? Help me decide.

Post by SKJUN »

If I look at 40 year Stock vs. Gold returns, there have been several cycles & few times of interest.

In 1980, Gold peaked, stock investors were saying "what if we had bought gold instead".

Then came 2000, when Gold investors were saying, "what if we had bought stocks instead".

Then it was 2008: stock investors were saying "what if we had bought gold instead"

Now its after 2020: wise fortune tellers are telling you "you should have bought stocks in 1980".

Sure, Stocks have given great returns in long term. But Gold helps reduce volatility. For some, Gold even replaces cash/ currencies in a portfolio. Not as much as Harry Brown suggests - but a tinge of gold in the portfolio is like cilantro in the salsa that wakes up the flavors.

If I had gold bars from my mother, and I don't need them immediately, I'd get her name and info inscribed on the bars, and when it is my time, I'd add my name to the legacy before giving it to my children. IMHO. :beer :sharebeer

I am curious if physical 40 years old gold bars could have additional antique value in a couple of generations?
Last edited by SKJUN on Sat Jan 16, 2021 2:02 pm, edited 1 time in total.
User avatar
wassabi
Posts: 513
Joined: Sun Feb 02, 2014 8:06 am

Re: What to do with gold coins? Help me decide.

Post by wassabi »

If this purchase won't move the needle for you (as you wrote), then I would sell it and purchase bitcoin. There's nothing wrong with allocating a small percentage of your portfolio to speculative or high-risk investments. You won't get many people from this board supporting that idea.
User avatar
skipper
Posts: 98
Joined: Mon Nov 19, 2018 9:52 pm

Re: What to do with gold coins? Help me decide.

Post by skipper »

Impatience wrote: Sat Jan 16, 2021 9:50 am You already said it was financially immaterial, so... buy a little safe to keep it in, OR if you’re really feeling bold maybe a nice display case. You could have a picture of your mother surrounded by all those gold bars, that would be quite the memorial.
One of these is the best idea to me. If I had unmolested gold (not coins, not jewelry, etc.) I would hold on to it as-is in a safe place. Maybe when all your greenback and on-paper money dissolves in the upheavel, and we return to the wild west, you may find that gold far and away transcends our current understanding of its value.
"Reasons not to hold cash are fed money printer go brrrrrr..." -UnitaryExecutive
tmcc
Posts: 450
Joined: Tue Feb 06, 2018 6:38 pm

Re: What to do with gold coins? Help me decide.

Post by tmcc »

Make a gold jewelry box out of the bars?
rage_phish
Posts: 214
Joined: Thu Jan 31, 2019 4:27 pm

Re: What to do with gold coins? Help me decide.

Post by rage_phish »

wassabi wrote: Sat Jan 16, 2021 2:28 pm If this purchase won't move the needle for you (as you wrote), then I would sell it and purchase bitcoin. There's nothing wrong with allocating a small percentage of your portfolio to speculative or high-risk investments. You won't get many people from this board supporting that idea.
I did just this with some gold (though much less than op)
Topic Author
veindoc
Posts: 778
Joined: Sun Aug 14, 2016 9:04 pm

Re: What to do with gold coins? Help me decide.

Post by veindoc »

Nate79 wrote: Sat Jan 16, 2021 9:20 am Dig a hole and bury it in the backyard. Make a map. Put the map in a bottle. Put the bottle in the attic. In your will give instructions where to find the bottle upon your demise.
I love this. If I was clever enough I would do this with riddles and clues along the way, but I have no imagination.
Topic Author
veindoc
Posts: 778
Joined: Sun Aug 14, 2016 9:04 pm

Re: What to do with gold coins? Help me decide.

Post by veindoc »

Watty wrote: Sat Jan 16, 2021 12:45 am
veindoc wrote: Fri Jan 15, 2021 6:36 pm .... 8 gold bars .....

It did not rise substantially from 800 at purchase in 1987 to just under $2000 now.
So she spent $6,400 on the gold in 1987.

On January 1st the S&P 500 was at 264.

It is at 3768 today. That is up orver 14 time without dividends.

If she had bought an $S&P 500 index fund instead it would now be worth more than $100K with the dividends. (You can crunch the exact numbers.)

That looks more like an example of what not to do than something to try to do again today with bitcoin.
veindoc wrote: Fri Jan 15, 2021 6:36 pm I would like to keep this money separate for sentimental reasons. Choices are to keep the gold bars, purchase a piece of estate jewelry I would wear on special occasions like I do with the jewelry she left me, buy Bitcoin, or use the money to purchase either an investment property or second home.
I can understand keeping or buying jewelry for sentimental reasons but all the other options make little sense because the emotional attachment to the money would not be there and you could do that with your other funds.

A few more suggestions;
1) Give it to a charity that both you and your mom would have supported.
2) Use it for a kids wedding and let them know it was from their grandparent.
3) Use it to help the kids buy a SAFE car.
4) Help the kids with a house downpayment.
5) Grandkids college fund
I like the idea of the charity. My mom was probably the most generous person I know. She donated 100% of her time, money and heart to any cause and even more if it benefited a single mother. I will have to do some research to see if we can create an ongoing scholarship in her honor with some organization or school. I don’t know if $16,000 is too small an amount to do that. Can I create a DAF titled in honor of xxxx? Invested well that could be a longlasting gift.
livesoft
Posts: 75166
Joined: Thu Mar 01, 2007 8:00 pm

Re: What to do with gold coins? Help me decide.

Post by livesoft »

veindoc wrote: Sat Jan 16, 2021 6:24 pm Can I create a DAF titled in honor of xxxx? Invested well that could be a longlasting gift.
Yes, you can. Invest the money in your own account, donate the shares held long-term to the DAF, and immediately grant the money out of the DAF. That is, gains in the DAF are immaterial in that gains in/out of the DAF are the same as far as the final recipient of the gift is concerned, but you would have a higher tax deduction if the gains occurred before you donated. If you like, donate your additional tax savings to the DAF, too, and leverage the legacy of your mother.
Wiki This signature message sponsored by sscritic: Learn to fish.
MnD
Posts: 4648
Joined: Mon Jan 14, 2008 12:41 pm

Re: What to do with gold coins? Help me decide.

Post by MnD »

Quite a number of years ago I sold some inherited gold and used the money to massively improve attic and crawlspace insulation and replace all the horrible steel frame windows windows down to the studs with energy star rated fiberglass ones in our big and then drafty 1952 ranch style house. Our heating bill dropped almost 50% overnight and indoor comfort increased greatly. Best trade I ever made.
70/30 AA for life, Global market cap equity. Rebalance if fixed income <25% or >35%. Weighted ER< .10%. 5% of annual portfolio balance SWR, Proportional (to AA) withdrawals.
finite_difference
Posts: 2340
Joined: Thu Jul 09, 2015 7:00 pm

Re: What to do with gold coins? Help me decide.

Post by finite_difference »

1/2 gold jewelry, 1/4 Bitcoin, and 1/4 ETH. If you’re not interested in crypto, a 529 or charity would work as well.

The crypto might go to zero, but you said the the amount isn’t financially impactful. Make sure you save the passwords for your wallets in a safe place and password manager, and have backups of your wallets.
The most precious gift we can offer anyone is our attention. - Thich Nhat Hanh
User avatar
Peter Foley
Posts: 5243
Joined: Fri Nov 23, 2007 10:34 am
Location: Lake Wobegon

Re: What to do with gold coins? Help me decide.

Post by Peter Foley »

There is an obvious middle ground here. Let's say there are 4 grandchildren. Save 4 gold bars, one for each as a memento. Sell the other 4.

If the grandchildren are not sentimental about their bar when they grow up they can sell it.
Post Reply